![]() The price of Binance transactions is approximately stable and is roughly $0.15 per transaction. Naturally, this indicator is always considered to be more than the leading competitor Ethereum. We can build a blockchain project on Binance Smart Chain. To do this, Binance Smart Chain has compatible functionality with the Ethereum Virtual Machine(EVM).īinance Smart Chain is a parallel independent network of forked blocks and is not a 2-tier network add-on like Polygon. The main idea is to implement the ability to make smart contracts in a way that would not take up the bandwidth of the Binance Chain. It is designed for the efficient processing of smart contracts. Binance Smart Chainīinance Smart Chain(BSC) is a more advanced blockchain of Binance Chain(BC), which is its fork. It may also lose ground if faster, more scalable, and more efficient solutions enter the market. It will probably lose its support and will no longer be available as the 2nd level of Ethereum. Polygon has a fully customizable technology stack that offers users an experience similar to Ethereum. Through the use of multi-chain, the Polygon system can use Ethereum. Polygon is powerful and highly scalable due to its proof-of-stake consensus and collaboration with the Heimdall architecture. A secure blockchain where transactions are carefully verified. MATIC is used to manage and secure the Polygon network and pay network transaction fees. ![]() MATIC is an ERC-20 token, which means it is compatible with other Ethereum-based digital currencies. Polygon is an offshoot of Ethereum that emerged as a response to the problem of scalability, speed, and transaction costs on Ethereum. It does not have a fixed supply of coins, which means that inflation is possible in the future, that is, the loss of the value of tokens, so the loss of NFT value too. ![]() This can be bugs, instability, and relatively unfinished functionality. There are security concerns, which are also associated with a small number of system validators (there are about 1000 of them). Due to a particular consensus, it is considered an incompletely decentralized blockchain platform. Thanks to a good project layout, users do not need to deal with multiple segments or Tier 2 systems. For example, the Solana network can theoretically process over 710,000 transactions (TPS). It has a large scale of transaction processing. Solana has a small commission fee for minting NFT tokens. Solana Blockchain is the main competitor of Ethereum in this field due to its blockchain architecture, which is well suited for creating decentralized applications (apps) and NFT. Created in 2017 but fully launched in 2020 is an open source project implementing a new high-performance permissionless blockchain. Solana is the second most popular blockchain technology for minting NFT tokens. So don't forget to take that into account. Poorly scalable and not designed for a large number of concurrent transactions.īut, there is information about the upcoming new Ethereum 2.0 where all these problems will be resolved. High commission fees for transactions and minting of tokens, since it is tied as a percentage to the market price, the higher it is, the more you have to pay. It is not eco-friendly, as it uses PoW technology, which spends a lot of electricity on constant calculations. All Ethereum transactions are highly secure. It has a functionality that allows you to organize NFT auctions, meaning the price of NFT may change independently from mint cost. Ethereum is the most famous blockchain running NFTs, so more people are familiar with it. ![]() You can find a lot of Ethereum blockchain developers due to its popularity. Ethereum creates a peer-to-peer network that securely executes and verifies application code and publicly builds and maintains a secure digital ledger called a smart contract. EthereumĮthereum is a decentralized blockchain platform and the second largest cryptocurrency in the world by capitalization. Here we have selected five main ones most suitable for NFT use.
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